explain the degrees of price
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In simple words, price elasticity of demand is the ratio of percentage change in quantity demanded to the percentage change in price. ... It is thus, rate at which the demand changes to the given change in prices. So, we can say that it is the rate or the degree of response in demand to the change in price.
There are three types of price discrimination: first-degree or perfect price discrimination, second-degree, and third-degree.
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